Donating by Gift Aid
The donation can be reclaimed back at the basic rate of tax of 20% from the government which adds an extra 3% (until 2011); for every pound you give, the trust gains £1.28. If the donor pays higher rate tax, they can reclaim another 25p in the pound back from the Inland Revenue through their tax return and it will cost them even less. There are about 8000 members of the LAA and if they gave even £1 each the Trust would gain £10,240 and be well on its way to delivering these projects.
The Gift Aid form can be found in the Light Aviation magazine or a copy can be downloaded here. Please note that the donation needs to go directly to the LAAET not the LAA.
Donating through Charity Foundation
If you like to donate to charities from time to time, you can always recover the 20% or 40% tax by using one of the established organisations such as the Charities Aid Foundation to handle the tax for you. If you open an account with them, any money you add is immediately increased by 23% and available to you to give away to any charity you like, either on-line or using the cheques they provide. Again, higher rate taxpayers can claim more back from the Inland Revenue. Take a look at www.cafonline.org. The LAA ET is registered with CAF, just type “light aircraft” into their search tool and the trust will be listed.
Wills and inheritance
If you make a gift to a charity in your will, it is exempt from inheritance tax and this can be a good way to remember people and organisations you care about. Wills and legacies are complex and need some care but the Charities Aid Foundation has simplified the process. For further information take a look at the legacies link on www.cafonline.org.
If you have any questions about donations to the Educational Trust, please get in touch with the office at Turweston.
If you can give some time to help with these projects or any of the other work of the Trust, please get in touch with us through the office.